Question: Problem 6-6 Bond Yields (LO1, 2) A bond with a face value of $1,000 has 16 years until maturity, carries a coupon rate of 5.8%,

Problem 6-6 Bond Yields (LO1, 2)

A bond with a face value of $1,000 has 16 years until maturity, carries a coupon rate of 5.8%, and sells for $1,109.

c. What is the yield to maturity if interest is paid semiannually? (Do not round intermediate calculations. Enter your answer as a percent rounded to 4 decimal places.)

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